Discounted Rate Mortgage

This is a variable mortgage that is discounted from a Lender’s SVR by a set percentage within a set period. There are often early repayment charges applicable if the loan is repaid within the discounted period.
Discounted Tracker Rate Mortgage: This is a variable mortgage that is discounted from the Bank of England’s Base Rate by a set percentage within a set period. There are often early repayment charges applicable if the loan is repaid within the discounted period.